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Page 1: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Corporate PresentationMarch 2019

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Page 2: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Disclaimer

These slides have been prepared by Shield Therapeutics plc (the "Company") solely for your information and for use at a presentation for the purpose of providing background information on the Company, its

business and the industry in which it operates. For the purposes of this notice, "presentation" means these slides, any oral presentation, any question and answer session and any written or oral material

discussed or distributed during the presentation meeting.

This presentation has not been approved by the United Kingdom Listing Authority under the Prospectus Rules (made under Part VI of the Financial Services and Markets Act 2000, as amended) or otherwise, or

by the London Stock Exchange plc. This presentation has not been independently verified and no representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its

subsidiaries or subsidiary undertakings, or any of such person's respective directors, officers, partners, employees, agents, affiliates or advisers, as to, and no reliance may be placed for any purpose whatsoever

on the information or opinions contained in this presentation or on the completeness, accuracy or fairness thereof.

This presentation does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities of the Company in any jurisdiction and

neither the issue of this presentation nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity. This presentation does

not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection

with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on the Company, its business and the industry in which it operates and is not

intended to provide complete disclosure upon which an investment decision could be made. The merit and suitability of an investment in the Company should be independently evaluated and any person

considering such an investment in the Company is advised to obtain independent advice as to the legal, tax, accounting, financial, credit and other related advice prior to making an investment.

No undertaking, representation, warranty or other assurance, express or implied, is or will be made or given by or on behalf of the Company or any of its subsidiary or subsidiary undertakings, or any of such

person's respective directors, officers, partners, employees, agents, affiliates or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this presentation and

no responsibility or liability is accepted by any such person for any such information or opinions or for any errors, omissions or misstatements, negligent or otherwise, nor for any other communication written or

otherwise. All information in this presentation is subject to verification, correction, completion and change without notice. None of the Company or any of its subsidiary or subsidiary undertakings, or any of such

person's respective directors, officers, partners, employees, agents, affiliates or advisers, undertakes any obligation to amend, correct or update this presentation or to provide the recipient with access to any

additional information that may arise in connection with it.

The statements contained in this presentation may include "forward-looking statements" that express expectations as to future events or results. Forward-looking statements can be identified by the use of

forward-looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "may", "will", "seeks" or "should" or, in each case, their negative or other variations or

comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These statements are based on current expectations and involve risk and uncertainty because they

relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed

or implied by such forward-looking statements. Any of the assumptions underlying forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in forward-looking

statements may not actually be achieved. Nothing contained in this presentation should be construed as a profit forecast or profit estimate. Investors and any other recipients of such communications are

cautioned not to place reliance on any forward-looking statements. The Company undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new

information, future events or other circumstances.

To the extent available, the data contained in this presentation has come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein

have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and

surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein. In addition, certain of the data contained in this presentation come from the Company's

own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company believes that such research and

estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without

notice. Accordingly, undue reliance should not be placed on any of the data contained in this presentation.

This presentation should not be copied or distributed by recipients and, in particular, should not be distributed by any means, including electronic transmission, to persons with addresses in the United States of

America, Canada, Australia, South Africa or Japan, their possessions or territories or to any citizens thereof, or to any corporation, partnership or such entity created or organised under the laws thereof, or any

other jurisdiction, where such distribution is unlawful. Any such distribution contrary to the above could result in a violation of the laws of such jurisdictions.

This presentation is confidential and is being supplied to you solely for your information and may not be reproduced, re-distributed or passed on, directly or indirectly, to any other person or published in whole or in

part for any purpose. By attending the meeting where this presentation is made or by accepting a copy of this presentation, you agree to be bound by the limitations and restrictions set out above.

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Page 3: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Introduction to Shield Therapeutics

• AIM-listed biotech company (STX.L)

– Market capitalisation ~£77.5m (@15Mar19)

• Primary focus is on developing and commercialising Feraccru®

– A novel oral treatment which is approved in the EU to treat iron deficiency with or without anaemia in adults

– Multiple positive phase 3 clinical trials have confirmed effectiveness

– Out-licensed to Norgine in EU, Australia, New Zealand

– US NDA: PDUFA date 27 July 2019

– Additional late stage asset, PT20, requires one phase 3 study to submit a MAA in Europe and NDA in the USA

• Semi-virtual UK-based company – conduct of clinical trials as well as manufacturing and sales & marketing are out-sourced

– Highly experienced management team

– 15 employees

• Comfortably funded into 2020

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Page 4: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

A brief history of last 12 months…

4

5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent failure to meet primary end-point

27Mar18: EU extends approved Feraccru® indication to all adults with iron deficiency

19Sep18: Feraccru® licensed to Norgine (inc. £11m upfront) for commercialisation in EU, Aus & NZ

13Dec18: FDA accepts Feraccru®

NDA and confirms 27 July 2019 as date for completion of review

16Mar18: AEGIS-CKD detailed analysis shows study did in fact meet primary end-point

Investment proposition – recovery of the business from the consequences of the initial and incorrect AEGIS-CKD study results have not yet been fully reflected in the share price recovery

4Mar19: AEGIS-H2H study shows Feraccru non-inferior to IV iron at treating IDA

Page 5: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Analyst research: Current price targets

5

Current shareprice

Page 6: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Iron deficiency and Feraccru®

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Page 7: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Iron deficiency (ID)

• Iron required for multiple vital functions

– Key component of haemoglobin, carrying oxygen from lungs to tissue

– Transport mechanism for electrons within cells

– Facilitating oxygen enzyme reactions

• Iron deficiency occurs when a body either:

– Does not absorb enough iron to supply its needs or,

– Loses iron through blood loss

• ID can be caused by malnutrition, bleeding and a number of chronic diseases, in particular:

– Inflammatory bowel disease (IBD) and

– Chronic kidney disease (CKD)

• Iron deficiency is the most common cause of anaemia (iron deficiency anaemia ‘IDA’)

• ID/IDA is treated with iron replacement therapy

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Page 8: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Anaemia and IDA

• Anaemia is a condition characterised by abnormally low levels of red blood cells or low levels of haemoglobin within red blood cells

• Symptoms of anaemia include:

– Lethargy, fatigue, weakness, depression, impaired immune system, GI disturbances, neuromuscular imbalances

• WHO stages of anaemia:

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Page 9: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Large market: IBD and CKD are increasingly prevalent diseases

5

10

20

15

035

EU5

CKD diagnosed prevalence in US, EU5(2017-35F) Millions of patients

US

343332313029282726252421 222019 23182017

1.8%

1.2%

CAGR %

(2017-35F)

Total 1.5%

• Growth in prevalence driven by population growth and underlying proportion of people developing the primary diseases:- IBD rate estimated to be growing at c.1% p.a. in developed nations driven by improved

awareness amongst other factors- CKD rate estimated to be growing at c.1% p.a. in developed nations due to higher levels of

obesity & diabetes plus growth in population >50 yrs old as kidney function declines with age

5

10

15

20

0

IBD diagnosed prevalence in US, EU5(2017-35F) Millions of patients

EU5

US

34302621 23 33252218 2719 31 32292017 28 352420

1.7%

1.1%

CAGR %

(2017-35F)

Total 1.4%

c.15 million patients are estimated to have diagnosed IBD or CKD in 2017.

This is expected to grow to c.19 million by 2035

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Page 10: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Iron replacement therapy can be oral or intravenous (IV)

Oral

• Mostly salt-based iron compounds

• Inexpensive and convenient but…

• Poor absorption = slower to restore iron-levels and…

• Not well tolerated = poor compliance

Intravenous

• Used mainly in patients intolerant of oral therapies

• Requires hospital administration due to safety risk

• Resource heavy, inconvenient & costly

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Iron market by volume & value:

Oral

IV

100%

Although oral iron has majority of volume, IV iron has close to 50% of market by value

The tolerability of salt-based oral iron therapies and the cost and inconvenience of IV iron together create a major unmet need and commercial opportunity

Page 11: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

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The clear opportunity created by Ferinject®…

Which can now be directly targeted by Feraccru®:Results from the recently reported AEGIS-H2H phase 3b study in ~250 IDA patients showed that:• Feraccru® was non-inferior in responder rate to Ferinject® in treating iron

deficiency anaemia• Feraccru® again showed it was efficiently absorbed & well tolerated over 52 weeks• Feraccru® offers a simple, well tolerated and effective oral treatment alternative to IV

iron therapy without the need for hospital-based administration

Page 12: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

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In a market enjoying rapid growth…

Market penetration data for Ferinject® as defined by the amount of iron that is being prescribed per capita suggests that (apart from Switzerland) the ID/IDA markets are in the early stages of development with growth anywhere between 11% and 48% from ’17-’18

Page 13: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Feraccru is a novel oral formulation

• Feraccru® is a low dose oral formulation of a non-salt complex of Fe3+, which is stable in the GI tract

– Other oral irons are salts and require the Fe to dissociate to be absorbed

– This causes formation of insoluble products in the GI tract, causing intolerance in patients

• The Fe3+ in Feraccru® remains in complex with maltol until absorbed and the iron is delivered to the bloodstream where it binds to transferrin

– Maltol gets metabolised and excreted in urine

– Unabsorbed Feraccru® passes through the digestive system in the benign complex and is excreted in faeces

• Feraccru® is a well tolerated oral iron replacement therapy

– Potential for use as a first line treatment for patients with iron deficiency or as an alternative to IV iron in patients failing existing oral iron salts

Source: Shield Therapeutics Investor Materials, 2017; MedScape; EMA; Stallmach et al. 2015; Abbaspour et al. 2014; L.E.K. research

Feraccru® mechanism of action:

Most iron enters

liver and bone

marrow

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Page 14: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Feraccru® in the treatment algorithm

14

In

Oral Iron Tolerant

Intravenous (IV) Iron

• Iron directly into the blood• But:

– Potential allergic reactions– Iron overload– Hospital only– Resuscitation team required– Inconvenience and high overall cost

• ID/IDA arises in multiple primary diseases

• Failure to treat leads to lethargy as well as much more serious consequences (e.g. immune & heart complications)

Fe2+

Fe2+

Insoluble complexes

+Radicals

Gut damage side effects

Patient diagnosed with iron deficiency

Oral Iron Intolerant

Up to 70% with gastro side effects

Oral Iron

Key features:✓ Low dose oral iron

✓ Non-inferior to IV iron

✓ Taken twice-daily without food

✓ High iron availability

✓ Effectively raises Hb and iron levels

✓ Well tolerated compared to placebo

✓ No patients in Feraccru long term studies required interventional IV Iron

Feraccru®

• Long patent life• Marketed by Norgine in Europe for the

treatment of iron deficiency in adults• USA NDA process under way, PDUFA

date 27 July 2019

Page 15: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Feraccru® clinical studies

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Page 16: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

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12

13

14

0 4 8 12

Ab

solu

te H

b (

g/d

l)

Duration of treatment (weeks)Feraccru

• Study of 128 IBD patients with IDA

• Patients were intolerant of or unwilling to take oral iron salts

• A clinically relevant haemoglobin (Hb) increase is considered to be 1g/dL

• Feraccru® delivered highly relevant and rapid 2.3g/dL rise inside 12 weeks with 1g/dL in only 4 weeks

P < 0.0001

• Normalised mean Hb by week 12

• Long term compliance levels of 97%

• With chronic therapy patients’ anaemia did not recur and iron indices continued to improve

• Ongoing Feraccru® therapy may prevent need for IV iron

• Majority of adverse events were related to IBD status

• Low incidence of other adverse events

• Neither short or long-term Feraccru® therapy led to iron overload

Source: Marketing Authorisation Application (MAA)

11

12

13

14

0 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64

Ab

solu

te H

b (

g/d

l)

Weeks of treatment

Normalisation of males

Normalisation of females

010203040506070

% o

f su

bje

cts

Feraccru Placebo

Feraccru provides rapid and effective results...

…works over the long term

Source: Marketing Authorisation Application (MAA)

…and is well-tolerated

Feraccru’s efficacy and safety are key differentiators: AEGIS-IBD

Source: Marketing Authorisation Application (MAA)

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16

Page 17: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

AEGIS-CKD Study Analysis (1) (2)

ITT: intention-to-treat; MI: multiple imputations

• Study met primary endpoint of change in Hb from baseline at 16 wks (p = 0.0149)

• Statistically significant change in Hb is observed across all analyses (ITT, mITT and PP) and in all sensitivity analyses at both wk 8 and 16

• Change in ferritin, TSAT and serum iron from baseline statistically significant at weeks 4, 8 and 16 demonstrating early effect

• Hb levels increased and maintained over 52 weeks

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(1) SAP v1.1(2) 169 patients

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6

Week 4 Week 8 Week 16

Primary endpoint (∆Hb g/dl)

Feraccru Placebo

p=0.0052

p=0.326

p=0.0149

9.5

10

10.5

11

11.5

Week 0 Week 8 Week 16 Week32 Week 42 Week52

Long term follow up (Hb g/dl)

Feraccru armPlacebo armFeraccru (placebo arm)

Page 18: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

AEGIS-H2H (Head-to-Head) study

• Feraccru® shown to be non-inferior in responder rate to market-leading intravenous (IV) iron therapy in treating iron deficiency anaemia

• Multi-national Phase IIIb randomised, active-controlled trial in 242 IBD patients with IDA and haemoglobin (Hb) measurements as low as 8.0g/dL

• Compared efficacy and safety of Feraccru® at 12 weeks to IV iron (Ferinject®)

• Efficacy defined as either (i) a 2g/dL rise in Hb from baseline or (ii) Hb normalisation

– Results showed that response to Feraccru® at 12 weeks was well within the 20% limit required by the protocol to confirm non-inferiority (p=0.022) to Ferinject®

• Full data to be submitted for peer-review and subsequent presentation at scientific meetings

• Triggered receipt of €2.5m development milestone from Norgine under the September 2018 licence agreement

• Data will support pricing and reimbursement negotiations

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Page 19: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Europe commercialisationNorgine licence headlines

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Page 20: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Norgine licence headlines

• Exclusive licence to commercialise Feraccru® in Europe*, Australia and New Zealand (announced September 2018)

– £11 million upfront licence payment

– Up to €54.5million in development and sales milestones with €2.5million development milestone triggered by AEGIS-H2H results

– Royalties ranging from 25% to 40% as sales increase

• Why Norgine? It is a well-resourced, European-focused specialty pharma business with a proven commercial track record for whom Feraccru® is a central product for growth

– Commercial operations now active in the UK and Germany, with >80 field-based staff promoting and supporting Feraccru®

• Shield globally responsible for:

– Manufacture and supply of Feraccru®

– All aspects of current and future development

– All aspects of intellectual property

• Shield also retains full commercial rights to Feraccru® in all unlicensed countries including the USA

* Excluding countries covered by AOP (Scandinavia) and EWO (Switzerland)

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Page 21: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

USA

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Page 22: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

USA

• September 2018: NDA for Feraccru® submitted

• December 2018: FDA accepted Feraccru® NDA for review

• December 2018: PDUFA date (completion of review) confirmed as 27 July 2019

• Shield now considering commercialisation options for Feraccru® in the USA, most likely to out-license

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Page 23: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Financial headlines

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Page 24: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Financial position

• Revenues of £11.9m* in 2018

– £11m upfront payment from Norgine to licence Feraccru® in the EU

– £0.9m of Feraccru® revenue (sales + royalties) despite the product being commercially unsupported since February 2018

– Feraccru® demonstrated quarter on quarter growth of ‘in market’ sales through 2018

• Cash balance of £9.8m* at year end

• €2.5m development milestone received from Norgine following AEGIS-H2H results

• Cash runway extends comfortably into 2020

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* Unaudited results

Page 25: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Newsflow and investment highlights

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Page 26: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Anticipated 2019 newsflow

Indicative timing Event

27 July 2019 PDUFA date for US approval of Feraccru®

H2 2019 Start of Paediatric Phase III study

Ongoing/ad hoc Potential further out-licensing agreements for Feraccru® in USA and other territories

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Page 27: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Takeaway messages & investment highlights

• Shield Therapeutics is a highly-focused, commercial stage, specialty medicines business– Iron deficiency with or without anaemia - the indication for our lead product, Feraccru® - is a rapidly

growing market worth >$2bn pa, yet the market is poorly penetrated and patients clearly have an ongoing unmet medical need that Feraccru® may resolve

• Feraccru®– A novel oral ferric iron therapy with efficacy & safety proven across a range of clinical trials inc. in

comparison to Ferinject®, the leading IV iron product

– Approved in Europe for the treatment of iron deficiency with or without anaemia in adults

– Actively promoted by Norgine, a proven European-focused commercial organisation

– Feraccru® NDA decision due 27 July 2019 potentially giving approval in the world’s largest and most attractive pharma market

• Cash runway comfortably extends into 2020– Recent positive AEGIS-H2H study led to a €2.5m payment from Norgine

• Valuation upside– Feraccru® has a large and growing market opportunity enhanced by recent positive results of a head to

head study of Feraccru versus IV iron

– US approval is on the horizon and markets like the USA, China and Japan are available for licensing

– PT20 only requires one additional phase 3 study prior to regulatory submission and is available for licensing in all markets

– However:• Shield’s market capitalisation is only £77m as of 15 Mar 19

• Current consensus analyst valuation1 - £130m (116p/share), ranging up to £179m (153p/share)

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1 Peel Hunt, Liberum, Edison, Capital Networks

Page 28: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Contact:

Carl Sterritt, CEOTim Watts, CFO

Tel: +44 (0)207 186 [email protected]

Page 29: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Management team

Name Role Biography

Carl Sterritt

CEO & Founder Started Shield Therapeutics in 2008 and identified the Feraccru opportunity in 2010. Previously held senior management roles at United Therapeutics and EncysivePharmaceuticals, working on innovative therapies for the treatment of pulmonary arterial hypertension; founding the Group after Encysive was acquired by Pfizer Inc

Tim Watts Chief Financial Officer Tim joined the company as Interim Chief Financial Officer in August 2018 and has over 25 years’ experience in the pharmaceutical and biotech sectors. A chartered accountant, he was Group Financial Controller of AstraZeneca plc (2002-2006), CFO of Archimedes Pharma (2007-2011) and CFO of Oxford Biomedica plc (2012-2017)

Mark Sampson

Chief Medical Officer Having joined in 2015, Mark has more than 25 years of pharmaceutical development and commercialisation experience at companies such as SmithKline Beecham, Amgen and Gilead. Before entering into the pharmaceutical industry Mark qualified and practised as a surgeon in the NHS

Jackie Mitchell

VP, Regulatory Affairs and Quality

With over 20 years’ experience in regulatory affairs Jackie has led the group’s regulatory activities since 2012. She has led several major regulatory projects, including successful MAA and NDA submissions, including MAAs for the Feraccru, Kaletra and Humira.

David Childs

Director, Product Supply & Commercial Alliances

David joined in 2011 as Director of Manufacturing. During his tenure at GSK, David gained over 18 years’ of experience in chemical and pharmaceutical development and worked closely with several outsourcing partners.

Lucy Bailey General Counsel & Company Secretary

Lucy has worked with Shield since 2015 and was a key member of the team working on the admission of Shield Therapeutics to the AIM market in 2016. She is admitted as a Solicitor of the Senior Courts of England and Wales and has worked previously at both a boutique and an international US law firm based in Singapore

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Page 30: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

AEGIS-CKD Study: the story of Feb-Mar 2018

• A pivotal Phase III study with primary endpoint evaluating haemoglobin response to Feraccru® after 16 weeks compared with placebo, in patients with pre-dialysis chronic kidney disease (CKD)

• Initial blinded top-line data suggested that Feraccru® had failed to meet primary endpoint

• Detailed investigation identified a number of patients who experienced pre-defined events after week 8 that led to withdrawal but, as permitted in the study protocol, week 16 endpoint data was collected which confounded the blinded analysis e.g.

– Placebo patients receiving blood transfusions & Feraccru® patients suffering non-related bleeds

• Full analyses using the pre-specified statistical analysis plan, using “last observation carried forward” methodology as agreed with regulators, corrected for the confounding data

• Study showed that patients treated with Feraccru® demonstrated a highly statistically significant response (p=0.0149) in haemoglobin levels after 16 weeks of treatment compared to placebo

• Furthermore

– A highly statistically significant response (p=0.0052) in haemoglobin levels compared to placebo was already seen after just 8 weeks of treatment

– Ferritin levels (key marker of iron absorption) increased significantly compared to placebo at 4, 8 and 16 weeks (p=0.0004)

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Page 31: Corporate Presentation - Proactiveinvestors UK€¦ · A brief history of last 12 months… 4 5Feb18: Initial blinded top-line data from Feraccru® AEGIS-CKD study shows apparent

Other Feraccru® studies

AEGIS-PAED PK Phase I Pharmacokinetics study:

• Top-line data reported June 2018

• 36 subjects aged 12-17 years

• Feraccru® achieved all pre-defined goals including positive effects on serum parameters and good tolerance at all dosing levels

Phase III paediatric study:

• Expected to start recruitment H2 2019

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